The Bengaluru-based company said it will use the fresh capital to strengthen its research and advisory capabilities.

Wealthtech startup PowerUp Money has raised $12 million in a Series A round led by Peak XV at a time when mutual fund participation in India is expanding rapidly. The funding also comes amid record SIP inflows and growing retail participation. Accel, Blume Ventures and Kae Capital participated in the round, doubling down on earlier investments, while 8i Ventures and DevC also continued their backing. The Bengaluru-based company said it will use the fresh capital to strengthen its research and advisory capabilities, scale its subscription product PowerUp Elite, and launch a new fully managed advisory offering, PowerUp Infinite. It also plans to invest in investor education and financial literacy initiatives. Accel, Blume Ventures and Kae Capital participated in the round, doubling down on earlier investments, while 8i Ventures and DevC also continued their backing. The round was closed just six months after the company raised $7.2 million in seed funding. “Today there are nearly 60 million Indians investing in mutual funds, but most of them are still guessing whether they are in the right funds. Distribution has scaled, but access to high-quality advice has not," Founder Prateek Jindal told Moneycontrol. “The top five million Indians are well served by traditional wealth managers, but the next 95 million customers, who hold nearly a third of India’s wealth, have largely been left out of quality advisory," he added. Founded in 2024 by Jindal, PowerUp Money operates as a SEBI-registered Registered Investment Advisor and follows a zero-commission model. The platform focuses on research-led mutual fund advice aimed at aligning recommendations with long-term wealth creation rather than product distribution incentives. The PowerUp Money app allows users to review their mutual fund portfolios free of cost and track portfolio health and performance. Within eight months of launch, the platform has onboarded over 5 lakh users and is tracking more than Rs 65,000 crore in assets. Its paid offering, PowerUp Elite, charges an annual fee of ₹999 and provides personalised advisory services including fund selection, rebalancing and asset allocation. The company said in a statement that the product has crossed 25,000 paid subscribers since launch. PowerUp Money plans to complement this with PowerUp Infinite, a higher-touch advisory product offering one-on-one guidance and goal-based planning. “In less than eight months, we have onboarded five lakh users and are tracking over Rs 65,000 crore in mutual fund assets, which shows strong demand for unbiased, research-led advice," Jindal said.

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